Cannabis Investors Should Beware Money Laundering Risk

Law360 (June 6, 2019, 1:17 PM EDT) -- The last few years have seen a widespread relaxation of restrictions on the production and supply of cannabis. The U.K. introduced a licensing scheme in 2018 to allow doctors to prescribe cannabis products in certain cases. Canada has gone further, legalizing the drug even recreationally.

The situation in the U.S. is more complex. At federal level cannabis remains a Schedule 1 drug, meaning that its production, sale and use are unlawful. The position in individual states, however, varies, with the majority allowing cannabis for medical purposes, and some permitting recreational use.

The overall trend toward deregulation has naturally encouraged significant growth...

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